How can a life insurer improve its skills in some of the most crucial areas for company growth, such as lowering the total cost of ownership of technology and shortening the time it takes to sell new products and features? This question was posed by Guardian Life, a market leader in individual life insurance. The company has been known for its pioneering use of cloud technologies for years, and they regarded the response as a logical development of that approach.
"We had the feeling that there was a lot of room for improvement when it came to scaling new product versions and making changes to current products," said Nick Volpe, Guardian Life's CIO of Individual Markets. "The addition of features or the development of a new product to meet rapidly changing market demands took longer than expected due to existing technological limitations." We believe that a cloud-based technology might help us cut this time in half."
Guardian decided to carry out the Accenture Life Insurance and Annuity Platform (ALIP), a SaaS-based, cloud-enabled disaster protection strategy organization stage, after a confirmation and investigation stage. Gatekeeper was already using AWS, so they saw this change, and its push to move applications to the cloud, as an excellent opportunity to build the new stage in AWS. To achieve Guardian's business and IT objectives, the combination of AWS's breadth of administrations and ALIP's cloud-local capacities is conveyed through a straightforward three-way organization between Guardian, Accenture, and AWS.
For optimal adaptability and cloud performance, the ALIP cloud-first strategy employs departments and micro-services. The implementation technique has been designed and tested to be highly adaptable to current and future tasks, and it adheres to programming transfer procedures such as DevOps and Agile.
The arrangement's power
The ability to make rapid changes to the ALIP is especially important for the Guardian - something that must be considered in light of the configuration phases - an inventory of open messages, open coordination with non-rack setup devices. It used to take a long time for the Guardian to test and announce a change in how a case was handled, or to obtain information as part of the application. According to the Guardian, an organization can use ALIP to show a change in flight and expand it within hours, depending on the situation. Another appealing aspect of this component is that the organization has no issues with explicit code reporting capabilities.
Make your transformation easier. Even if cloud transformation is a financially sound decision in the long run, it frequently comes with a number of short-term costs. In fact, one of the most common pain points for businesses is the cost of cloud migration.
If you're worried about the financial aspects of your transformation, consider implementing cloud services in stages. This allows you to break down your transformation into manageable chunks. You'll rank and implement your cloud services based on their importance this way, and you won't have to pay the maximum amount of money up front.
Remember that Rome was not built in a day, and neither is a good cloud transformation strategy.
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